Manchester specialty-products maker Lydall Inc. signed a five-year, $35 million line of credit to replace an existing line due to expire next year.
Lydall announced Friday Charlotte, N.C.-based Bank of America N.A. as its new lender for the asset-based credit line. The previous lender was San Francisco-based Wells Fargo Bank N.A., Lydall finance chief Erika Turner said Friday.
The old credit line was set to expire next March, the company said. As of Thursday, Lydall said it had no outstanding borrowings under the credit line.
Lydall and its divisions make materials used for thermal and acoustic insulation, automotive oil and air filters, and biomedical containers for storing blood and other tissues.
